Ann: Results of Meeting , page-4

Basically shareholders approved the issuing of 2.7c shares to pursuit capital(for organising the cap raising).

Shareholders approved to ratify the 15% shares already issued to Waterford. ie the company can now issue another 15% any time without our consent.

And finally shareholders approved to convert the 2 convertible notes rather than pay them out with hefty penalty.

Its not really good or bad news. The deal would go through regardless.

But now that Waterford and Pursuit are guaranteed their shares, its possible that the shares will be pumped.

ie would you approve 2.7c shares if shareprice was 10c? NO

But IF the shares go to 10c now, their is nothing you can do about it. In a sense nothing holding them back from pumping it now. Unless they still want more shares via underwriting.